Originally Posted by jacwjames
Most water pumps have a weep hole that will start to leak if the bearings/seal start to fail. So it could be the water pump.
In my experience, when water starts coming from the vicinity of a water pump... it's the seal. If it's a hose or something else, you should be able to spot the source of the leak.
My ISL started leaking last year, and it looked like it was leaking around the gasket, which really confused me because it's got an O-ring seal. After I got the water pump off, I could see that it had an internal channel draining the front seal waaaaay over to the side of the mounting flange. So the leak really was the seal, but it wasn't dripping from the shaft seal area like you'd expect.
The updated P/N I got for a replacement has a more conventional weep hole.